Blake Moore: “Thank you so much, Madam Ranking Member. Mr. Chairman, I rise in opposition to H.R. 1195 and not because I don't think…”

“Thank you so much, Madam Ranking Member. Mr. Chairman, I rise in opposition to H.R. 1195 and not because I don't think it is a wonderful idea that Mr. Heck has come up with, along with his colleague from the Republican side, for a small business advisory panel within the Consumer Financial Protection Bureau. Prior to the Consumer Financial Protection Bureau, we had example, after example, after example of Wall Street's preying on consumers and treating working class Americans just like an ATM in order to feather their bonuses; but here, today, we find yet another not so veiled attempt to defund the CFPB. I guess I could take the PAYGO rules a little bit more seriously if just last week we had not repealed the estate tax to the tune of $270 billion for the 6,000 wealthiest Americans. It is a tax from which only 6,000 people will benefit. I am certainly not looking for a pay-for. I am just pointing out the hypocrisy of the notion that we have got to offset this $9 million for the CFPB. As has been mentioned, the CFPB has returned $5.3 billion to more than 15 million consumers who have been harmed by financial fraud, and I think PAYGO is just more of a convenient excuse to cut the CFPB than an actual principle that we follow here. I urge my colleagues to stand up for American consumers. Oppose these attempts to attack the CFPB and to expose our constituents to these emboldened financial fraud centers. Let's reject H.R. 1195.”